HONG KONG: Comments from top Federal Reserve officials suggesting a US interest rate rise is still likely this year pushed the dollar and Asian stocks higher on Tuesday, as the Fed sought to ease concern about the state of the global economy.
Another rally in Shanghai also bolstered confidence, with the index seeing a third straight day of gains. But the Asian Development Bank (ADB) flagged concerns about China’s growth, saying it would act as a drag on regional expansion this year.
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